the interest paid for borrowing qn amount of money for 3yrs at the rate of 4%is n108 find the amount of the money borrowed
1 answer:
The amount of the money borrowed is 864.941
So the amount of money over time can be given with an exponential function y=a(b)^x or more specifically y=a(1+r)^x where r is the growth rate (interest rate)
So the equation can be written as
m=(1.04)^t
Where m represents the amount of money over time, P represents the principal amount, and t represents time in years. Since we're given the amount of interest paid and not the total amount which includes the initial amount borrowed you have to subtract P from the equation. This will give us the equation that we'll use to find the initial amount
where I represent the interest paid.
plug the values into the equation
Therefore the amount of the money borrowed is 864.941.
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Answer:
For the 99th percentile, we have X = 206 seconds.
Step-by-step explanation:
Problems of normally distributed samples can be solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
99th percentile:
Value of X when Z has a pvalue of 0.99. So we use
For the 99th percentile, we have X = 206 seconds.